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MINERAL DEPS: ERAMET TAKEOVER BID UP 20%

Melbourne, Jun 13

France’s ERAMET has increased its hostile, all-cash offer for J/V partner Australia’s Mineral Deposits by 20% to $A1.75-a-share, valuing the company at $344.7M ($US261M) to pay $322M for the shares it doesn’t already own in the company.The French mining/metallurgy company says it will declare its latest and final offer free from conditions if it acquires at least 50.01%, with the acquisition seeing the full consolidation of the TiZir mineral sands J/V, in which each company has a 50% stake. TiZir’s 2 operating arms are the 90%-owned Grande Côte mineral sands project in Senegal and the 100%-owned TTI titanium-iron ilmenite upgrading facility in Norway.

ERAMET LIFTS BID FOR AUSSIE MINERAL DEPOSITS 20%READ THE FULL STORY IN BULLETIN. Click hereNot a subscriber? Click here for a free trial subscription